Verchartering

Verchartering is the practice by which a vessel owner (the lessor) leases the use of a ship or other transport asset to a charterer under a charter party. The term is commonly used in maritime shipping, particularly in Germanic-language contexts; in English, it is more often described as “chartering out” a vessel. Verchartering can involve different charter formats, notably voyage charters, time charters, and bareboat (demise) charters, each with distinct allocations of control, costs, and risk.

In a voyage charter, the owner provides the vessel and crew for a single voyage or series of voyages, and the charterer pays freight for the transportation of cargo. In a time charter, the vessel is hired for a specified period, with the charterer assuming operational control (and paying voyage-related costs such as fuel), while the owner remains responsible for vessel condition and crewing. A bareboat charter transfers possession and operational control to the charterer, who bears most operating costs and responsibilities, while the owner retains ownership.

Economics and risk are defined in the charter party, including hire or freight rates, laytime and demurrage, off-hire clauses, insurance, and liability allocations. Standard forms from industry bodies (such as BIMCO and other regional conventions) are commonly used to structure terms.

Verchartering serves to secure vessel capacity, optimize fleet utilization, and navigate market conditions. Risks include market volatility, off-hire events, cargo claims, and regulatory or geopolitical disruptions, which are typically addressed through contract terms and dispute resolution provisions.